The KUIK Morning Market Report for Wednesday, December 16:
Markets are up.
Index Direction Change Units Time
Dow Up 157 points 17,525 7:04 AM
S&P500 Up 0.6% percent 2,055
Nasdaq Composite Up 0.5% percent 5,021
30 Year Treasury Up 1 Basis Points 3.00 Annual Yield
The Commerce Department reports housing starts rose 10.5% in November to a seasonally adjusted annual rate of 1.173 million. Economists expected only a 1.14 million rate. Multi-family led the increase, up 18.1%. That continued the recent strong streak for apartment construction. Single-family starts were up 7.6%. Compared to a year ago, multi-family starts are up 21.4%, and single-family 17.3%. Permits jumped 11% to an almost1.3 million pace, highest in 5 months and indicates signals a healthy building season is ahead.
“The Federal Reserve is set to lift interest rates for the first time in over nine years on today at 11 am Pacific time. The announcement from the Federal Open Market Committee, will be followed by a news conference with Chairman Janet Yellen, who will speak at11:30. The Fed has kept interest rates in a band between zero and 0.25% since December 2008, when it lowered rates in the midst of the Great Recession.
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Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/housing-starts-jump-105-2015-12-16
http://www.marketwatch.com/story/what-time-is-the-fed-decision-2015-12-14
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